If you’ve ever run afoul of a bank and its ability to collect its money, you know it can get downright nasty. One of the biggest banks in the country, Bank of America, is no exception. But it’s finally paying the price for its interactions with customers. In one recent suit, Bank of America was ordered to pay up a little over a million dollars to one couple for the way they were treated.
That’s the story of Nelson and Joyce Coniglio, from Tampa, Florida. They fell a little behind on the money they owed to Bank of America for mortgage payments. After that, they received more than 700 calls in four years. They said that at some points, they had up to five calls each day. The calls were definitely beyond the pale; the complaint specifically described the calls as “patterns of outrageous, abusive and harassing conduct.” They also received letters that weren’t just threatening and demanding, but also apparently included incorrect information.
The Coniglios didn’t take this sitting down. They got in touch with lawyers to help them get the calls to stop. Their lawyers sent the bank cease and desist letters in an attempt to stop the collections calls, but they continued. The fact that Bank of America didn’t stop after those letters were sent, in addition to the extent to which the letters seemed to be harassment, led to the big payday for the Coniglios. The judge awarded them $1,500 per call, totaling a payout of $1,051,000.
Bank of America sent out the following statement:
Bank of America has helped 2 million homeowners avoid foreclosure. Our calls to the Coniglios were not to collect a debt, but rather to help them avoid foreclosure after they fell behind on their mortgage payments in 2009. Because our calls were not answered and our efforts to help the Coniglios avoid foreclosure were urgent, these calls continued. We are committed to help homeowners in need of assistance avoid foreclosure.
While a million bucks doesn’t seem like that much to a company the size of Bank of America, it’s more the precedent that counts. This isn’t the first time that Bank of America has gotten in trouble for its robo-calls, and it’s probably not going to be the last. In 2013, the bank had to pay $32 million in a class-action lawsuit to 7.7 million customers who claimed that they received harassing robo-calls.
There are plenty of complaints that Bank of America has incessantly called various customers. One elderly couple in California said that they believe they received over 2,000 calls from Bank of America. Another customer in Arkansas said that she got somewhere around 350 calls.
Bank of America deserves to receive punishment, as small of a slap of a wrist as $1 million is, for its actions. It’s one thing to go after the money that the bank is owed, but its another to harass customers incessantly.